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Title:The Socioeconomic Value of Climate and Weather Forecasting : a Review
Author(s):Mjelde, James W.; Sonka, Steven T.; Peel, Derrell S.
Subject(s):socioeconomic value
Weather Forecasting
Abstract:This paper examines the complex nature of the process of economically valuing climate/weather forecasts. A discussion of both micro- (producer) and sector (market) economic issues is obtained through a review of previous studies. Integration of these issues is necessary to obtain the overall value of current or improved climate/weather forecasts. Previous studies have predominantly been concerned with valuing climate/weather forecasts at the producer level. By considering only producer level effects, the estimates of the value of climate/weather forecasts ignore market adjustments. Potential biases caused by ignoring these adjustments are illustrated.
Issue Date:1989
Publisher:Illinois State Water Survey
Series/Report:ISWS Miscellaneous Publication MP-112
Genre:Technical Report
Type:Text
URI:http://hdl.handle.net/2142/48967
Publication Status:published or submitted for publication
Peer Reviewed:is peer reviewed
Rights Information:Copyright ... University of Illinois Board of Trustees. All rights reserved.
Date Available in IDEALS:2014-05-05


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